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What are the conditions for borrowing money?

What are the conditions for borrowing money?

At the end of 2016, the National Bank of Belgium’s Personal Credit Center had approximately 11.3 million outstanding credit agreements. Knowing that Belgium has about 11.3 million inhabitants, the calculation is simple! There are as many credits in progress as inhabitants. But not everyone can borrow money! First of all, in Belgium, the minimum legal age for borrowing money is 18, that is to say by a majority. The second condition to take out a loan in Belgium and to be resident on Belgian soil.

Do we have to work to be able to borrow money?

Do we have to work to be able to borrow money?

Not necessarily. In order to borrow money , you have the obligation to collect regular income and to provide proof of these regular resources. If you are an independent, no worries. You just need to get a role check. Moreover, several documents must be provided when applying for credit.

What are these documents? As we just said, you must provide proof of income or a rolled out warning for the self-employed, as well as a copy of your identity card. Finally, if you already have credit agreements in progress, you must submit a copy of your contract (s) and / or a statement.

A final condition for borrowing money is not to be registered in the NBB’s national payment incident file (the National Bank of Belgium).

A set of conditions must be met in order to borrow money in Belgium.

Who can borrow money in Belgium?

Let’s quickly recap these conditions to be able to borrow money :

  • Being older than 18
  • To collect regular income and to be able to prove it
  • Being resident in Belgium
  • Not to be filed in the national file of the payment incidents of the National Bank of Belgium

Would you like more information on your possibilities to borrow money from Credilend? Get in touch with us without delay via our form, either by phone or go to the nearest agency.

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